Al-Itihad sports club eyes investment to secure fixed funding sources

Al-Itihad sports club eyes investment to secure fixed funding sources

January 29, 2017 - 21:22
Posted in:
Written By: AbdulkaderAssad

The steering committee of Al-Itihad sports club said it is trying to secure investment opportunities for the properties owned by the club so that it could guarantee alternative, fixed funding sources that can replace the current financial sources that all of the Libyan sports clubs receive from the Youths and Sports Ministry.

The steering committee of Al-Itihad gave the Municipal Stadium in Tripoli, which it owns, to two companies to apply new sod in the field and to do service works at the stadium’s facilities.

The two companies will set up new seats for the spectators, do some maintenance in the dressing rooms and build a headquarters for the club’s management at the stadium.

This kind of step that aims at investment was revealed on the club’s Facebook page on Saturday saying it aims to make use of its strategic location in Bab Benghashir in the center of the capital.

“We could build a mall of seven floors, a bank, and a clinic just by changing the design of the current headquarters and keeping only the two stadiums and the games hall, then all of other building would be demolished and new ones will take shape, leading to fixed income for the club so that it can become independent in the future.” The Facebook post reads.

Libya’s sports clubs are suffering from the shortage of financial sources as they are owned by the government and thus they have no funding opportunities except for that of the government via the Youths and Sports Ministry or sometimes via donations.